September 7, 2018 – Karachi: The President and CEO of JS Bank, held a media engagement event at its Head Office located at ShaheenComplex, Karachi.
The session was hosted by JS Bank’s President and CEO, BasirShamsie. Attendees included leading journalists from a cross-section of the print and electronic media community. The reporters felicitated Mr. Shamsie on having taken over the role of President of JS Bank and congratulated him on the Bank’s rapid growth.
Speaking on the occasion, Mr. Shamsieshared the Bank’s history stating, “Our journey of success had humble beginnings. When we took over the operations of American Express Bank in Pakistan, we had just 4 branches with approximately 150 people nationwide. Today we have 322 branches in 160 cities and one international branch in Bahrain, staffed byover 5,000 employees.This translates into a new branch being opened practically every fortnight. Our evolution from an investment bank in 2007 to one of Pakistan’s leading consumer, retail, SME, corporate and digital banks is a testament to the Bank’s vision and team.”
Commenting broadly on the overall financials, Mr. Shamsie informed the attendees that JS Bank’s equity has risen to PKR 16.7 Billion while Profit Before Tax stands at PKR 1.1 Billion as of June 30th, 2018. JS Bankremains fully compliant with the Capital Adequacy Requirement (CAR) of the State Bank of Pakistan (SBP) while limiting the non-performing loans (NPL) ratio to less than 2%.
He also spoke on how the Bank is amongst the top 5 banks when it comes to a variety of customer focused offerings includingSME, Home and Auto loans. Considerable efforts are also being made in the sphere of Youth Development, Entrepreneurship Clean Energy and Agriculture lending. JS Bankis amongst the topbanks in the Prime Minister Youth Business Loan (PMYBL) program. Alliances with leading companies such as Careem, Engro and Nestle have allowed JS Bank to give ordinary people the means to earn a decent livelihood. Other innovative offerings launched include JS Gold Finance where people can just walk into a branch, pledge their gold ornaments and walk out with cash within just 100 minutes.
JS Bank is committed to the progress and prosperity of Pakistan and is working day and night to take the country to new heights.
About JS Bank:
JS Bank is one of the fastest growing banks in Pakistan, with 323 branches in 161 cities. The Bank also has an international presence and is a leading player in the digital banking space. JS Bank has received the prestigious award for Best Environmental and Social Governance Bank at the Pakistan Banking Awards 2017. The Bank is part of JS Group, one of the Pakistan’s most diversified and progressive financial services group. For more information, please visit http://www.jsbl.com.